At the beginning of the current year, Tobias' basis in his S corporation stock was $27,000. Tobias had previously made a direct loan to the S corporation of $10,000. During the year, the S corporation reported an $80,000 ordinary business loss and no separately stated items. If Tobias is a 50 percent owner of the S corporation, how much of the ordinary loss may he deduct? O $40,000 O $37,000 O $10,000 O $27,000